GOA: The third meeting of the Start-up Engagement Group of G20 which was held in Goa on June 4, made a momentous plea for a $1 trillion commitment by 2030. This unprecedented call to action aims to advance startup ecosystems across member countries and propel innovation and entrepreneurship to new heights.
During the meeting, the group achieved a significant milestone with the formulation of a policy communique. Meticulously crafted by India as the Chair of the group, this agreement serves as a roadmap for the Start-up20 Engagement Group.
It encompasses recommendations for five task forces: foundations, alliances, finance, inclusion, and sustainability. These crucial components are aimed at establishing a robust framework for start-ups, fostering collaborations, enhancing access to capital, promoting market access for under-represented communities, and nurturing start-ups with global significance.
Chintan Vaishnav, the Chairman of the Start-up20 Engagement Group, emphasised the significance of the conference’s outcomes during a post-event press meet. He highlighted the unanimous agreement on the policy communique and underscored the subsequent steps to be taken.
“The communique, which is available on the Start-up20 webpage, will be adopted during the Gurugram meeting scheduled for July 3 and 4. We have put out a call for action for G20 countries to allocate USD 1 trillion for start-up ecosystems by 2030,” Vaishnav stated.
As the Start-up20 Engagement Group sets its sights on the future, the policy communique’s recommendations for foundations, alliances, finance, inclusion, and sustainability serve as key pillars for creating a vibrant and thriving global start-up ecosystem.
By focusing on these crucial components, the group aims to lay the groundwork for start-ups to flourish, foster collaborative partnerships, provide enhanced access to capital, facilitate market access for underrepresented communities, and nurture startups with global significance.